‘Coaching’ next generation of investors

Kevin Spellman left full-time work in the investment industry more than six years ago to embark on an academic career, but he retains the competitive fire that burns for many stock pickers.

Spellman at one point directed research for a $50 billion pension fund but now is preparing for his fourth year as the first director of the University of Wisconsin-Milwaukee’s investment management certificate program. He is teaching — or as he calls it, “coaching” — the next generation of investment professionals.

Spellman is not satisfied with simply launching the UWM program, which he believes already ranks in the top 5 percent nationally. He wants to keep raising the bar.

“My goal is to be the absolute best program in the United States,” said Spellman, who has the slim build of a marathoner. “We have a rigorous curriculum. We have students who work very hard.”

The UWM program was created to educate Wisconsin students seeking careers as investment analysts, financial analysts or investment advisers. Milwaukee investment industry leaders hope many of the students will remain in the area after graduating to fill the talent pipeline for area financial firms.

Marquette University in Milwaukee started its applied investment program in 2005, but most MU graduates find work outside metro Milwaukee. The granddaddy of such programs in the state is the Applied Security Analysis Program at UW-Madison, which is for MBA students and also sees most grads move beyond Wisconsin.

Spellman was director of the Madison program for three-and-a-half years before his hiring at UWM. He is a Mequon native who relishes his role in training UWM students, many of whom work part time.

“I like to build things,” he said. “I like this student group the most. I have students here who are working at Kopp’s.”

Spellman said he loves professional investment management but kept getting the bug to teach. When the UWM position surfaced, he saw it as the perfect fit for his professional experience and academic attainment.

The main site of the UWM program is the David O. Nicholas Applied Finance Lab at the Sheldon B. Lubar School of Business. Nicholas, of Milwaukee’s Nicholas Funds, is a 1987 graduate of UWM’s graduate finance program and a board member of the program Spellman leads.

Nicholas calls Spellman a tireless worker who has a passion for investing and education.

“Kevin has done a great job of driving the whole thing,” Nicholas said. “He has enthusiasm for the business, for the kids and for the development of the kids.”

Spellman already has made tremendous strides and professionals in the industry are taking notice, said Noaman Sharief, a portfolio manager at Dana Investment Advisors, Brookfield, and a member of the program’s advisory board.

“Kevin Spellman is a teacher who really inspires his students to be the best that they ever can be,” Sharief said.

Applying a Vince Lombardi-like intensity, Spellman has become a pied piper of sorts at UWM for the investment industry. His investing heroes include Warren Buffett.

After working as an investment professional and then an academic in Madison, Spellman has continued living in suburban Waunakee in what he calls his family’s dream home. He commutes to Milwaukee three days per week, leaving home at 5:35 a.m. for the 90-minute drive and often not returning until late at night.

“He pushes you and expects students to put in a lot of time while they’re in the program,” said Marco Spada, an alum of the program who is a research analyst at Nicholas Funds.

Students control daily stock- and bond-trading activities and report to a real board of professional investment advisers.

Spellman estimates he could make three times as much money working in the private sector. And he hasn’t stopped private-sector work, taking numerous consulting engagements.

To counter his thoughts of missed income opportunities, he maintains a hard-copy file that he calls his “feel-good box.” It is filled to overflowing with printouts and letters from students thanking him for being their “coach.”

“This is what I always wanted to do,” he said. “I love teaching.”

Kevin Spellman

Title: Director of University of Wisconsin-Milwaukee investment management certificate program

Personal File

Gordon’s in the House: The “G” in his name stands for “Gordon” and he is the fourth-generation Spellman with Gordon as his first name. Son G. Zachary Spellman is Gordon the fifth.

Marathon Man: In his limited free time, Spellman trains for marathons. He finished the Boston Marathon eight years ago in less than three hours.

Q&A

What was your best business/career decision? “Making the monetary sacrifice to go back to school after many years as a senior portfolio manager to earn a Ph.D. in behavioral finance to transition to my dual academic-practitioner director role.”

What is your biggest challenge? “Finding the time to accomplish all of the things I would like to do. It is too bad that I need to sleep.”

What is your favorite movie? “‘The Lord of the Rings: The Return of the King.’ I always cheer for the underdog.”

What was your first car? “A Volkswagen Rabbit with a hole on the driver’s floor, an interior suitable for a tank and a golf club cover on the stick shift. I was a caddie and loved golf.”